India's Neuland Laboratories slumps on Q4 profit fall

Neuland Laboratories

13/05/2024 06:05

** Shares of Neuland Laboratories  NEUL.NS  down as much as
14.7% to 6,088.10 rupees, their biggest intraday pct loss since
March 2020
    ** Pharmaceutical firm on Friday reported a 20% Y/Y fall in
its March-qtr consolidated profit to 675.6 mln rupees  ($8.1
mln)
    ** Revenue from operations fell 5.4% Y/Y 
    ** EBITDA margin contracts to 28.7% from 30.8% a year
earlier
    ** More than 80,000 shares change hands by 10:23 a.m. IST,
2.4x their 30-day avg volume
    ** Stock on track for a third straight session of losses, if
trend holds
    ** Including session's move, stock is up 16.2% YTD 
    



($1 = 83.5150 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))